Maersk Line Looking for Greener Pastures as Business Shifts Away from Shipping

By Finance

The AP Moller-Maersk of Denmark (MAERSK-A.KO, MAERSK-B.KO) is going to move the focus of its business activity from shipping and instead of this choosing to focus on its oil, drilling rigs and ports activities, the company’s chief executive officer told.
Nils Andersen informed that the company would decrease investment in Maersk Line, the company’s shipping container operation. Maersk Line is the largest operator of container vessels in the world, and holds a market share of 16 per cent.
“We are shifting away from the shipping side of things and go towards the higher profit generators and more stable businesses,” Mr. Andersen stated. He also added, “When we have taken that move, likely more than 50 per cent of our capital are going to be tied up in these 3 other businesses. Maersk Line is then going to account for 25per cent -30 per cent of capital. We are going to have 4 businesses of nearly equal size.”